Documents Required For Business Loans
Documents Required for Professional loans
- Papers as proof of identity like Passport, Pan card, Voters ID Card and Driving License.
- ITR with full computation of income.
- Proof of address like bank statements, ration cards, electricity bills, telephone bills.
- Balance Sheet and last 2 yrs account certified by CA.
- Highest Professional Degree Qualification Proof.
- Bank statements of last six months and passbook.
- Continuation proof like Sales Tax Certificate and Trade license.
- Passport size photographs.
Documents Required in case of Proprietorship or Partnership Firm
- Individual identity proof – Voter Identity Card, Passport, PAN card, MAPIN card, Driving License.
- Residential Address proof like voter I-card, Driving License, PAN card, MAPIN card, Passport copy.
- Identity proof like sales tax copy, Excise Registration Receipt, Service tax, PAN ID, VAT, copies of bills of Water, Electricity, Municipality and IT returns.
- Documents like Balance Sheet and IT returns paid.
- Bank statements
- Form 60 and PAN number.
- Place of business proof.
- Passport size photos.
Documents Required for Business Loans if the Company is PVT. LTD.
- Letter from Board that includes copy of annual return to establish the shareholding pattern.
- Individual identity proof for authorized signatories. This should include copies of PAN card, MAPIN card, Driving License, Passport and Voter’s Identity Card.
- Director’s list.
- Filled in Form 60.
- Documents of finance like Balance sheet and Income Tax return copies.
- Bank Statements of last six months.
- Passport size Photographs.
Business Loan Eligibility
Age Limit: Not less than 21 years and not exceeding 65 years.
Range of Loan Amount: Minimum Rs. 25,000 and Maximum Rs. 2,00,00,000
Minimum Annual Income Required: Rs. 200,000
Loan Tenure: Minimum period of 1 year and maximum 5 years.